The Trustees of the Property of Amanda Marie Glass (A Bankrupt) v Heifer Creek Investments Pty Ltd as Trustee for the Nicholas Investment Trust [2007] FCA 1133

FEDERAL COURT OF AUSTRALIA

The Trustees of the Property of Amanda Marie Glass (A Bankrupt) v Heifer Creek Investments Pty Ltd as Trustee for the Nicholas Investment Trust [2007] FCA 1133

BANKRUPTCY- Bankruptcy Act 1966(Cth) – application by trustees of the bankrupt estate to set aside a transfer of all right, title and interest in a property to a related person – consideration of ss 120(1) and 121(1) of the Bankruptcy Act 1966 (Cth) Bankruptcy Act 1966 (Cth), ss 120(1), 121(1), 121(5) Federal Court Rules, Order 35A3(2)(c) and (d) THE TRUSTEES OF THE PROPERTY OF AMANDA MARIE GLASS (A BANKRUPT) v HEIFER CREEK INVESTMENTS PTY LTD AS TRUSTEE FOR THE NICHOLAS INVESTMENT TRUST QUD130 OF 2007

GREENWOOD J

31 JuLY 2007

BRISBANE IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY QUD130 OF 2007

BETWEEN: THE TRUSTEES OF THE PROPERTY OF AMANDA MARIE GLASS (A BANKRUPT)

Applicant

AND: HEIFER CREEK INVESTMENTS PTY LTD AS TRUSTEE FOR THE NICHOLAS INVESTMENT TRUST

Respondent

JUDGE: GREENWOOD J

DATE OF ORDER: 31 JULY 2007

WHERE MADE: BRISBANE

THE COURT DECLARES THAT:

1. A transfer of property described as a fee simple of real property at 17 Collins Street, Mt Lofty, Toowoomba in the State of Queensland more particularly described as Lot 62 on RP41396 in the County of Aubigny, Parish of Drayton bearing Title Reference No. 11818164 pursuant to a contract of sale dated 21 November 2005 between Amanda Marie Cranley (otherwise known as Amanda Marie Glass) as vendor and the respondent as purchaser; and a loan agreement dated 21 November 2005 entered into between Amanda Marie Glass and the respondent as an essential and integral part of the transfer, are both void against the applicants as trustees in the bankruptcy of Amanda Marie Glass by operation of s 121 of the Bankruptcy Act 1966 (Cth). THE COURT ORDERS THAT: 1. The respondent forthwith transfer to the applicants all right, title and interest held by the respondent in and to the fee simple of real property at 17 Collins Street, Mt Lofty, Toowoomba in the State of Queensland more particularly described as Lot 62 on RP 41396 in the County of Aubigny, Parish of Drayton bearing Title Reference No. 11818164. 2. The respondent shall pay the costs of and incidental to the transfer of the right, title and interest in the land referred to in Order 1, to the applicants. 3. The respondent shall pay the costs of and incidental to the proceeding to be taxed or otherwise agreed. 4. The applicants have leave to read and file the affidavits of Kelly‑Anne Lavina Trenfield sworn 30 July 2007, Kelly Marie Thompson sworn 31 July 2007 and Paul George Anthony Betros sworn 30 July 2007.